During the creation of invoices and quotes, you can choose from various VAT rates. This includes not only standard VAT percentages but also many exceptional VAT situations that can be added. This ensures your invoices comply with VAT legislation.
Entering VAT
During the creation or editing of an invoice, you can set the VAT percentage individually for each line. The default setting is the standard rate of 21%.
The amount of VAT is automatically calculated based on the selected percentage and is added on top of the unit price entered (unless otherwise specified in the settings, see further on this page).
Tip: When adding a new line to the invoice, the VAT percentage from the previous line is carried over. So, if you want the entire invoice to be at 6%, select this percentage starting from the first line. You can also adjust all lines of an invoice to a specific percentage later by clicking on 'More options...'.
VAT rates
In addition to the 3 available standard rates, there are also exceptional rules that can be used. To set these, click on 'More options...'. This will display a list of all available VAT rates:
Select a VAT rate from the list to obtain more information about the respective VAT rate.
Once you have found the correct VAT rate, click 'Apply', and the invoice line will be assigned this VAT rate. The explanation and legal mention of the chosen rate will automatically be added to the invoice note. If desired, you can manually adjust this later.
By checking 'Apply to all invoice items', the chosen VAT rate will be applied to all invoice lines.
For these exceptional rules, no VAT is calculated as it is either reverse charged or exempted, and therefore does not need to appear on the invoice.
Click on "Country rates" at the top to set a VAT rate for another European country.
Inclusive or exclusive of VAT
The amounts you enter per invoice line are typically exclusive of VAT by default. VAT is then calculated on top of the invoice total. However, you can also choose to enter amounts inclusive of VAT. To do this, click just above the invoice lines where it says "Exclusive of VAT" and adjust it to "Inclusive of VAT".
From then on, all entered amounts will be considered inclusive of VAT, and the VAT will be deducted from the invoice total.
The option "Inclusive of VAT" can also be set as the default. To do this, go to "Settings" > "Advanced" > "VAT Settings" and check "Default to entering amounts inclusive of VAT."
By entering amounts inclusive of VAT, they will also be printed as such on the invoice. Amounts will therefore appear inclusive of VAT on the invoice.
To deviate from this, you can customize the invoice layout using the layout editor (accessible via "Layouts"). In the "Table" block, you can indicate the desired fields to display differently.